Well especially on the Net it does. Most Business angels in the world weren't up to scratch on IT, hence the big ideas were funded in America. I worked with people at FU Berlin having an algorithm like Google in 1997 and they were running their feet flat, unsuccessfully, for funding. Although I doubt the world would have backed a SE not in english.
So we need to firmly look at the UK, Australia and the other native English speakers to hopefully find some less risk averse investors.
Just do what you did with American Idol and the Office in IT. Come on Britain..!